Sebi allows non-bank custodians to manage gold, related instruments
"In case of a gold exchange-traded fund scheme, the assets of the scheme being gold or gold related instruments may be kept in the custody of a custodian registered with the board," Sebi said revising the mutual fund norms. After the revision of norms, non-banking custodians as well as banking custodians can manage gold ETFs and other gold-related products.
Sebi has revised mutual fund regulations to permit non-bank Sebi-registered custodians to manage gold or gold-related instruments, Photo: Reuters